Kindred Group Reaches Deal For 32Red Acquisition

Bosses at 32Red and Kindred Group have expressed their excitement at the prospect of working together, after reaching agreement on an acquisition deal worth £175.6 million. Kindred will pay 196p for each 32Red share, while there will be a second interim dividend of 4p.

32Red’s share price has picked up in recent weeks following speculation that a takeover could be imminent, and the new deal has now been announced as part of the ‘multi-brand strategy’ used by Kindred. The Swedish online gaming company, formerly known as Unibet, previously bought StanJames.com back in 2015 and is hopeful the 32Red acquisition will be a success.

“32Red is a high quality, customer-focused business with a similar culture to Kindred’s and we are delighted to welcome 32Red and its team into the Kindred Group and look forward to further developing the brand going forward,” said Henrik Tjärnström, CEO of Kindred Group.

Ed Ware, 32Red’s CEO, was similarly enthused. He commented: “We have consistently and profitably grown 32Red’s market share in the regulated markets of the UK and more recently, Italy. The management team at Kindred have a similar business philosophy to our own and we look forward to joining forces with Kindred and continuing our successful growth within the Kindred Group.”

32Red was founded in 2002 and operates online poker, bingo and betting sites, as well as a very popular online casino. You can check out Gamble.co.uk’s 32Red Casino Review, and keep your eyes out for further news on the takeover.

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